in a note released last night, Raymond James analysts Lawrence Keusch and John Hsu explain why the settlement is important:

We maintain our Market Perform rating on SRCL stock. After the close of the market, Stericycle issued an 8-K, which disclosed that the company has entered into amendments to select debt agreements. The amended agreements allow the company to temporarily increase its leverage ratio in order to make a $295M payment under a proposed settlement of the pending SQ class action litigation. Importantly, the proposed settlement is in-line with our $200-$300M expectations.

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